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As Vietnam's GDP rises year after year and its demographic dividend is at the economic take-off stage, it also drives the Vietnamese LED lighting market. According to data from the Vietnam Lighting Association, the output value of the LED lighting market in Vietnam will reach 854 million U.S. dollars in the next three years (compared with Vietnam’s rising GDP and demographic dividends, which is at the economic take-off stage, also Driven the LED lighting market in Vietnam. According to the Vietnam Lighting Association, the output value of the LED lighting market in Vietnam will reach 854 million US dollars (equivalent to RMB 5.565 billion) in the next three years, with an annual growth rate of 25%. The LED lighting market is becoming increasingly saturated in Europe and the United States, and there are many suppliers in the Chinese market and fierce competition in prices. The LED lighting market in emerging markets such as India, Southeast Asia, South America and the Middle East is just around the corner. LEDinside's Southeast Asia lighting market report shows that in 2016 Vietnam's lighting market reached 348 million US dollars, penetration rate exceeded 40%, and the penetration rate is expected to reach 51% by 2018. Tran Dinh, Vice Chairman and Secretary General of Vietnam Chamber of Commerce and Industry Bac pointed out that the current electricity consumption for lighting accounts for about 35% of the electricity consumption in Vietnam. It can replace 50% of the lighting fixtures with LED bulbs, saving 20.8 billion kWh (kWh/h) by 2020 and reducing CO2 emissions by about 9 million tons. At present, Vietnamese LED manufacturers still use foreign companies such as Philips and Osram. The largest, followed by Vietnam's domestic giants Dien Quang, Rang Dong, Duhal, etc. However, Vietnam's large manufacturers focus on downstream assembly, lacking the overall industrial chain, so the LED industry chain still has a lot of room for development. There are 200, but there are still many jagged LED lighting products in the Vietnamese lighting market. The problem lies in the lack of consistent product specifications and monitoring by relevant departments. Tran believes that Vietnam should learn from other countries and establish a set of conformity. ASEAN and other developed countries' LED product standards; in addition, the government should strengthen supervision to ensure that enterprises have a transparent and open competitive environment.
January 10, 2020